Privacy Code

Privacy Policy

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A Tradition of Respect for Member PrivacyOn January 1, 2004 new privacy laws governing credit unions and other businesses came into force. Vermilion Credit Union has a long history of respecting the privacy of their members and we are committed to developing policies, procedures and service offerings that protect member privacy.

Our commitment means that we will protect your privacy and respect your right to have a say in how we collect, use and disclose your personal information. We have procedures in place which guide our employees in maintaining confidentiality. What has been our ongoing business practice has now become our documented commitment to you.

In order to comply with new privacy laws, your credit union board of directors has adopted the Credit Union Code for the Protection of Personal Information, established related Policies and Procedures, and appointed a Privacy Officer. This document will give you a brief overview of our privacy committments.

Your Personal InformationWe hold personal information about members to help us meet and maintain the highest standards of financial service. This information can include your name, address, age, income, use of accounts, credit history and Social Insurance Number.

We obtain this information from you directly, and from the product and service arrangements you have made with or through us. Information is also obtained with your permission from credit bureaus, other financial institutions, and from the references you provide us.

Your personal information is collected for one or more of the following purposes:

To meet regulatory and legal requirements;

To establish your identification;

To protect you from illegal activity;

To determine the suitability of products and services to you, and your eligibility for products and services (including determining your eligibility for credit on an ongoing basis with other credit suppliers and credit reporting agencies);

To operate and administer products and services which you have requested, including providing information to related service providers involved in the operation and administration of those services on our behalf;

To provide you with information or advice on products and service that may be of iinterest to you (whether you currently have a product or service with us);

To conduct research to assist us in designing products and services that may be of interest to you, and obtain your feedback on current products and services;

To disclose information to third parties in connection with the ongoing management of our assets (including the assignment or sale of loans), and the further subsequent collection, use or disclosure of that information by those third parties and any of their agents or assignees for the purpose of managing those assets.

To provide ombudsman or mediation services to address concerns with credit union products or services raised by you.(A related service supplier is a third party supplier of financial services available through your credit union. We only deal with suppliers that have agreed to meet our standards of privacy protection.)

Here is a summary of the 10 Principles of the Credit Union Code for the Protection of Personal Information. If you would like to receive a complete copy of the Code, please contact us.

Accountability

We have designated a Privacy Officer who is accountable for our compliance with the principles of the Code.

Identifying Purposes

When we ask you for personal information, we will identify the purposes for which it shall be used or disclosed.

Consent

We require your knowledge and express or implied consent for the collection, use or disclosure of personal information.

Limiting Collection

The collection of personal information is limited to the purposes we have identified for you.

Limiting Use, Disclosure and Retention

We will use or disclose your personal information only with your express or implied consent, or as required by law. We will retain your information for only as long as necessary to fulfill identified purposes.

Accuracy

We will keep your information accurate, complete and up-to-date as is necessary for the puposes for which it is to be used.

Safegaurds

We will protect your personal information with appropriate security safegaurds.

Openness

We will make specific, understandable information readily available to you about our privacy policy and procedures.

Individual Access

When you request it, we will give you access to your personal information, how we use it, and whom we disclose it to. You are entitled to question its accuracy, its completeness and its uses.

Challenging Compliance

You are entitled to question the Privacy Officer about our compliance with any of these principles.

Your ConsentBefore we collect, use or disclose your personal information, we will obtain your consent to the purposes that we ordinarily use this information for in order to provide you service. We will obtain your consent in writing when you become a credit union member, or if we need information for a new purpose.

If you are currently a member, we may possess personal information about you that we have collected and used prior to implementation of our Privacy Code, for which we do not have your express consent. We will continue to use that information for the purposes listed in this document, unless you ask us to stop using information for specified purposes.

From time to time we may also rely on your implied consent to collect, use, or disclose personal information, but we will only do this in cases where it is reasonalble to assume your consent in connection with a service you are using.

We do not sell your information to third parties, or use it in any way we have not told you about.

You may contact us at any time to limit the uses and disclosures of your personal information should you choose to do so. You may limit or withdraw your consent at any time, subject to legal or contractual obligations. For example, we are required by law to provide a record of interest earned on your accounts to Canada Customs and Revenue Agency, so you may not withdraw consent to the use of your Social Insurance Number for that purpose.

If you do not withdraw your consent, we will asssume that we have your implied consent for the continued use of your personal information for purposes described within this document.

Questions? Ask our Privacy OfficerThe credit union Privacy Officer is your point of contact if you wish to raise any matters regarding the use of your personal information.

The Privacy Officer is responsible for monitoring information collection and data security, and ensures credit union employees receive appropriate training on privacy issues and their responsibilities under the Code. The Privacy Officer also handles all privacy inquiries and personal information access requests under the Code.

Ultimate responsibility for our compliance with the Code rests with the credit union board of directors.